Response Engineering Solutions Ltd - Accounts to registrar (filleted) - small 18.2
Response Engineering Solutions Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Report of the Directors and |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2018 |
| for |
| Response Engineering Solutions Ltd |
| Response Engineering Solutions Ltd (Registered number: 06452013) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2018 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Statement of Financial Position | 3 |
| Notes to the Financial Statements | 5 |
| Response Engineering Solutions Ltd |
| Company Information |
| for the Year Ended 31 December 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 101 Dunraven Street |
| Tonypandy |
| CF40 1AR |
| Response Engineering Solutions Ltd (Registered number: 06452013) |
| Report of the Directors |
| for the Year Ended 31 December 2018 |
| The directors present their report with the financial statements of the company for the year ended 31 December 2018. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 January 2018 to the date of this report. |
| Other changes in directors holding office are as follows: |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| ON BEHALF OF THE BOARD: |
| Response Engineering Solutions Ltd (Registered number: 06452013) |
| Statement of Financial Position |
| 31 December 2018 |
| 31.12.18 | 31.12.17 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 6 |
| Net current assets/(liabilities) | ( |
) |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Accruals and deferred income | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Share premium |
| Capital redemption reserve |
| Retained earnings |
| Shareholders' funds |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| Response Engineering Solutions Ltd (Registered number: 06452013) |
| Statement of Financial Position - continued |
| 31 December 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| Response Engineering Solutions Ltd (Registered number: 06452013) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2018 |
| 1. | STATUTORY INFORMATION |
| Response Engineering Solutions Ltd is a |
| company's registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value |
| added tax and other sales taxes. |
| Tangible fixed assets |
| Freehold property | - |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for |
| obsolete and slow moving items. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing |
| stocks to their present location and condition. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent |
| that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively |
| enacted by the statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of |
| financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in |
| which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted |
| or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be |
| recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are |
| charged to profit or loss in the period to which they relate. |
| Response Engineering Solutions Ltd (Registered number: 06452013) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2018 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| Freehold | to | Plant and |
| property | property | machinery |
| £ | £ | £ |
| Cost |
| At 1 January 2018 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2018 |
| Depreciation |
| At 1 January 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2018 |
| Net book value |
| At 31 December 2018 |
| At 31 December 2017 |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| Cost |
| At 1 January 2018 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2018 |
| Depreciation |
| At 1 January 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2018 |
| Net book value |
| At 31 December 2018 |
| At 31 December 2017 |
| The total above includes assets at a cost of £564,403 carried at a net book value of £416,474 financed under hire purchase |
| agreements. The total balance of hire purchase liabilities stands at £324,275 (2017 : £269,975) |
| Response Engineering Solutions Ltd (Registered number: 06452013) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2018 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.18 | 31.12.17 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.18 | 31.12.17 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.18 | 31.12.17 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| Other creditors |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.12.18 | 31.12.17 |
| £ | £ |
| Bank overdraft |
| Bank loans |
| Factored Loan | 1,700,220 | 1,436,072 |
| On the 15 March 2011,the Company entered into a factoring agreement with its bankers. In other creditors is the sum of |
| £1,700,220 owed to Lloyds TSB. All monies due or to become due from the company to Lloyds TSB Commercial Finance |
| LTD on any account whatsoever are secured by an all Assets Debenture dated 15 March 2011. |
| A charge was created on the loan for the Cheddar premises by Lloyds bank on 22nd September 2015. The loan balance was |
| £142,006 at 31st December 2018 (£151,650 at 31st December 2017) |
| A charge was created on the loans for the purchase of the Hirwaun premises by Lloyds Bank on the 15th March 2017. The |
| loan balance was £211,485 at 31st December 2018 (2017 : £237,176) |
| A secured loan was advanced during the year from Funding Circle, the loan balance at 31st December 2018 was £200,011. |
| 9. | ULTIMATE CONTROLLING PARTY |
| The controlling party is D Jones. |